Sabre (NASDAQ:SABR) Shares Down 8% – What’s Next?

Sabre Co. (NASDAQ:SABR) was down 8% during mid-day trading on Monday . The stock traded as low as $2.82 and last traded at $2.82. Approximately 2,809,323 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 4,183,422 shares. The stock had previously closed at $3.06.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SABR shares. StockNews.com upgraded shares of Sabre from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Bank of America upgraded Sabre from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.50 to $6.10 in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $4.00 price objective on shares of Sabre in a report on Friday, February 21st.

Sabre Stock Performance

The firm has a 50-day moving average price of $3.58 and a 200 day moving average price of $3.59. The stock has a market capitalization of $1.09 billion, a P/E ratio of -3.90, a price-to-earnings-growth ratio of 2.43 and a beta of 1.62.

Sabre (NASDAQ:SABR) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $714.72 million for the quarter, compared to the consensus estimate of $716.60 million. On average, equities analysts anticipate that Sabre Co. will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sabre

A number of hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in Sabre by 744.8% during the 4th quarter. Sterling Capital Management LLC now owns 9,589 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 8,454 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Sabre by 173.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,935 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 6,298 shares during the period. Zacks Investment Management bought a new position in shares of Sabre during the third quarter valued at approximately $41,000. MML Investors Services LLC bought a new stake in Sabre in the third quarter valued at $45,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Sabre during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Sabre

Sabre Corporation, together with its subsidiaries, operates as software and technology company for travel industry in the United States, Europe, Asia-Pacific, and internationally. It operates through two segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators with a network of travel buyers comprising online and offline travel agencies, travel management companies, and corporate travel departments.